Are gold and silver setting up for a repeat of the 2002-2003 launch scenario?

MoneyShow/Chris Vermeulen/8-10-2022

Chart courtesy of Merk Investments

“If Gold/Silver are repeating a 2002-03 setup, what can we expect in the future? Then the breakout trend starts in gold, which could happen as early as 2023 or 2024, I believe the next rally target for gold will be somewhere above $3100. Then, we start a dedicated climb to levels above $4500 and beyond. It is difficult to predict any date targets for this type of rally, but I’m trying to illustrate what I see related to the similarities of the 1989~2003 market conditions with what I’m seeing right now. If you were around to live through this incredibly exciting time, you may remember many of these events. I’m suggesting we may be starting to move through similar events right now and I suspect we are somewhere near August 2000 right now.”

USAGOLD note: It is uncanny how closely the gold market has tracked the bull market trend that began in 1999, as shown in the chart from Merk Investments above.